YES Bank reports net profit of Rs 266 crore in Q3

The net NPAs dipped consequently to 5.3% of total loans compared to 5.5% in the previous quarter.

Indian private sector bank, YES Bank Ltd registered a growth of 16 per cent on a quarter-on-quarter( QoQ) basis in Net Interest Income (NII) at Rs 1,764 crore, while its Net Interest Margin boosted by 2.4 per cent QoQ, high at 25 basis points obliged by a roughly 30 basis points reduction in the cost of deposits, at 4.9 per cent. The bank also reported a record Retail Fee income of Rs 447 crore.

The shares of the private lender were up by 0.36 per cent at Rs 13.85 (+0.050) in Friday’s closing session.

The Mumbai-based bank noted an increase of 7,7 per cent on a QoQ basis in operating profit valued at Rs 731 crore for the quarter that ended on Dec 31, 2021, against Rs 678 crore in the previous quarter. The bank’s profit after tax (PAT) stood at Rs 266 crore, an 18.2 increase in QoQ compared to Rs 225 crore in the same quarter in the previous year.

Its operating expenditures stood at Rs 1,767 crore, up 9.6 per cent QoQ led by propelled by the momentum in trade action during the quarter.
The lender’s gross non-performing assets (NPAs) were enhanced by 14.7% as compared to 15% in the previous quarter and 15.4% a year earlier.
However, the Net NPAs dipped consequently to 5.3% of total loans compared to 5.5% in the previous quarter. However, they raised from four per cent a year before.

The bank reported net advances at Rs 1,76,241 crore, up 2 per cent QoQ, and total deposits at Rs 1,84,288 crore, up 4.3 per cent QoQ. On 5 March 2020, in an endeavour to evade the collapse of the bank, which had an undue amount of bad loans, the Reserve Bank of India (RBI) took command over it.

In July 2020, Yes Bank Ltd shut their follow-on public offer (FPO) with a 95% subscription, driven by institutional investors. As of 28 July 2020, Yes Bank is an associate of the State Bank of India which has a 30% stake in the corporation.

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